As a Payhawk user, you can fund your Payhawk account using IBAN (International Bank Account Number) and BIC (Bank Identifier Code). To ensure your transactions are successful, verify that the IBAN and BIC details entered in your Payhawk account exactly match the information provided by your bank for the account sending the funds.
Even when the IBAN and BIC details are correct, the final approval of the deposit remains subject to Payhawk’s processing and compliance checks, as all incoming payments must be reviewed before being credited to your account.
Identifying issues and reasons for rejected payments
Payments may be successfully processed on your end but still rejected by Payhawk. One common reason for this is incorrectly entered IBAN or BIC details in your Payhawk account, which can prevent the funds from reaching your account.
In some cases, the IBAN may appear valid, but the associated Payhawk account is inactive or closed, leading to transaction failures. In such cases, contact Payhawk Support to verify your account’s activity status.
Resolving issues with IBAN and BIC details
You need to confirm the accuracy of all your banking details involved in the transaction to prevent payment rejections and ensure smooth transfers:
Double-check the provided IBAN and BIC details, and ensure that any updated details come directly from your bank.
Verify with all relevant parties that the used IBAN is valid and currently active.
Always enter your company's full legal name as the recipient when funding your Payhawk account.
If the payment is rejected, reach out to Payhawk Support to find out the reason for the failure.